Question: Q #: 1 & 2 ] Amelia will atend college at the end of 5 years from now. The 4 - years of college studies

Q #: 1 & 2] Amelia will atend college at the end of 5 years from now. The 4-years of college studies will
cost $50,000 a year. The yearly college bills are payable at the beginning of each year. Amelia opened a savings
account that pays 6.0% per year interest.
1. How much money should Amelia have at the end of the 5 th year to pay for her four years of college
expenses? Amelia will not be deposing any more money aer the 5th year when she starts college.
2. How much should Amelia deposit for the next five years at the end of each year to accumulate
enough money?

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